Whether you are single, married, living common-law, widowed or whatever your circumstances may be, making or reviewing your Will should be at the top of your To-Do List. A Will … Read More
In recent years, many innocent taxpayers have received calls from scammers posing as CRA representatives. These extortion schemes involve scammers who make threatening calls or send out emails and texts … Read More
A Registered Retirement Savings Plan (RRSP) was, prior to 2009, seen as the best way taxpayers could save for their retirement. However, once Tax-Free Savings Plans (TFSA) were introduced, individuals … Read More
On October 3, 2016, the CRA announced a requirement to report the sale of principal residence by a taxpayer. Previously, if the property was a taxpayer’s principal residence for every … Read More
The CRA has introduced a new service for E-Filers to be able to receive Notice of Assessments or Reassessments directly within 24 hours of filing an individual’s tax return. Taxpayers … Read More
If you have a balance owing for your 2016 income taxes, you can now authorize CRA to withdraw the funds from your bank account, on a specific date by providing … Read More
In prior years, a new employer was required to make monthly remittances to the CRA for their employees’ source deductions. Applicable for 2016 and subsequent years, eligible new small employers … Read More
If you fail to report an amount on your tax return for 2016 and have previously failed to report an amount of income on your 2013, 2014, or 2015 tax … Read More
Form T1135, Foreign Income Verification Statement, has been revised yet again by the CRA for 2015 and later taxation years. Under the new form, if you owned specified foreign property … Read More
The CRA has introduced a new service that allows individual taxpayers to view some of their correspondence from CRA online through My Account, rather than receiving it in the mail. … Read More